UPMC released earnings figures yesterday:
The region’s largest employer yesterday said it actually earned $459 million through the first nine months of fiscal 2007 on record revenues of $5 billion, and it is on pace to exceed its eye-popping performance of 2006, when its “excess margin” — earnings in excess of operating costs — soared 77 percent to $512 million and revenue nearly exceeded $6 billion.
Um, I’m going to withhold my erupting tangent to ask just to be sure … but isn’t “excess margin” or “earnings in excess of operating costs” the same damn thing as a profit?
And wouldn’t you say a profit of half a billion dollars would make UPMC a FOR profit?
I don’t understand this at all, because to me it seems clearer than Sonni Abatta’s skin.
Does UPMC have naked pictures of the IRS getting it on with the SEC? Because THAT would surely explain how they are getting away with this.
UPMC is turning into King Kong by climbing to the top of the USX tower, smacking its name up there in big bright shiny ugly letters and then beating its hairy, profit-making chest in celebration that they’ve come one step closer to Burgh-wide domination in their efforts to rename this city Luke Ravenstahl’s UPMC-Burgh.
And whaddaya know? I had a tangent anyway.